Tyler Tech Q4 SaaS revs +21.7% to $141M; guides FY24 rev $2.095-2.135B

Total revenues were $480.9 million, up 6.3%. On an organic basis, revenues grew 6.1%. Recurring Revenues Recurring revenues were $403.6 million, up 7.9%, and comprised 83.9% of fourth quarter 2023 revenues, up from 82.7%. On an organic basis, recurring revenues were $400.4 million, up 7.1%. • Subscription revenues were $286.1 million, up 11.4%. On an organic basis, subscription revenues grew 10.8%. Within subscriptions: ◦ SaaS revenues grew 21.7% to $141.0 million. On an organic basis, SaaS revenues grew 21.2%. ◦ Transaction-based revenues grew 3.0% to $145.1 million. On an organic basis, transaction-based revenues grew 2.1%. ◦ SaaS arrangements comprised approximately 89% of the total new software contract value, compared to approximately 86%. • Annualized recurring revenue (ARR) was $1.61 billion, up 7.9%. Earnings/EBITDA • GAAP operating income was $47.7 million, up 17.3%. Non-GAAP operating income was $107.4 million, up 9.7%. • GAAP net income was $38.9 million, or $0.91 per dilute

Total revenues are expected to be in the range of $2.095 billion to $2.135 billion. • GAAP diluted earnings per share are expected to be in the range of $5.17 to $5.37. • Non-GAAP diluted earnings per share are expected to be in the range of $8.90 to $9.10. • Free cash flow margin is expected to be in the range of 17% to 19%. • Research and development expense is expected to be in the range of $125 million to $130 million. • Capital expenditures are expected to be in the range of $46 million to $48 million, including approximately $27 million of software development costs.

Total revenues were $1.952 billion, up 5.5%. On an organic basis (excluding COVID-related revenues in 2022), revenues grew 7.4%. Recurring Revenues Recurring revenues were $1.63 billion, up 9.8%, and comprised 83.3% of 2023 revenues, up from 80.0%. On an organic basis, recurring revenues were $1.61 billion, up 9.5%. • Subscription revenues were $1.16 billion, up 14.5%. On an organic basis, subscription revenues grew 14.4%. Within subscriptions: ◦ SaaS revenues grew 23.2% to $528.0 million. On an organic basis, SaaS revenues grew 23.1%. ◦ Transaction-based revenues grew 8.2% to $631.5 million. On an organic basis, transaction-based revenues grew 7.9%. ◦ SaaS arrangements comprised approximately 85% of the total new software contract value, compared to approximately 83%. Earnings/EBITDA • GAAP operating income was $218.5 million, up 2.0%. Non-GAAP operating income was $448.1 million, up 2.5%. • GAAP net income was $165.9 million, or $3.88 per diluted share, up 1.0%. Non-GAAP net income w